Huntsville AL Economic Outlook Positive, Experts Say
Below is an excerpt from a recent article in the Montgomery Advertiser that speaks of good news for Huntsville’s economic outlook:
Compass Bank hosted its Business Leader Confidence Index luncheon Wednesday, and two experts said the economy is sending mixed signals that largely depend on where they originate and how large of an area they cover.
The BLCI is a survey of business leaders across Alabama. It collects input on areas related to economic growth or expansion and then assesses the results on a 1-100 scale.
Totals above 50 indicate growth and totals below 50 indicate a shrinking economy.
Responses on the national economy averaged 42.9, while Alabama’s economy generated more confidence with a 55.8 average outlook for the fourth quarter. Both of those figures were down about nine points from last quarter.
Respondents across the state averaged 50.7 for the economy as a whole. Huntsville, with a 55.3 average was the most optimistic.
“The state economy is on a roll, and the mood is upbeat,” Sam Addy, president of Compass Bank, said. “Things are great in Alabama.”
Business leaders at the lunch were asked to fill out a survey at the program’s start about what their expectations are. Eighty-six percent have low expectations for the national outlook, while 77 percent think the state economy has a bright out look for 2008.
Addy found those numbers interesting.
“I think it is quite decisive,” he said. “People have good reasons to be optimistic.’
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